Commodity trading specialist Krom River has appointed a new chief executive following the recent departure of co-founder Philip Turner.
Turner sold his 10% stake in Krom River and has resigned from the firm, which relocated from London to Zug in Switzerland last year. It is understood that Turner wanted to return to London and that his departure was amicable. He will remain as an investor in the firm's funds.
Itay Simkin took over the CEO role in mid-April and has also assumed Turner's former duties as risk manager. Simkin will also manage the firm's recently launched Krom River